Have you ever thought of owning a yacht in the Med and offsetting the cost by limited chartering? Maybe we can help you.
Menorca Cruising offers a Yacht Charter Management programme designed to meet the needs of each yacht owner. Our aim is to allow you to offset the costs of ownership and have a professionally managed yacht.
We are experienced in getting you as many or as few weeks of charter as you would like, to either maximise earnings or cover basic costs. When your yacht is not in use we can ensure it is looked after and cared for all year round, under our personalised yacht care management service.
We are not a yacht broker but we can work closely with you and the dealers to ensure you receive the best deal and help you to choose the best specifications to maximise your charter revenue potential.
Our moorings are located in the beautiful and historic Mahon harbour, which enjoys over 300 days of sunshine a year. The harbour is 3.5km long offering a safe environment for your yacht and access to one of the most perfect cruising areas in the Mediterranean.
It is only 2.5 hours flying time from most UK airports to Mahon, and from the airport it is just a 5 minute taxi ride to your yacht.
What type of Yacht should I consider?
If you are looking to maximise your charter income you should choose a yacht with a well-known name, such as Bavaria, Beneteau or Jeaneau. We can advise you on the revenue you can expect from different sizes and layouts and how each would fit in with our current fleet.
When is the best time to buy a Yacht?
Bookings for our yachts start in November/December each year so the earlier we can advertise it for the summer season the more time is available for marketing.
What expenses do I have to cover?
As the boat owner you are responsible for mooring fees, insurance and maintenance. We can provide you with estimates of the annual maintenance bills, including the spring re-commissioning, winterisation and guardianage during the winter months. Any major work which needs to be carried is approved in advance by you.
How much income can I expect?
Typically, we aim to achieve 10-12 weeks of charter per season. You will see that the income is enough to cover the costs of mooring fees, maintenance and insurance.
What are the tax implications and do I have to pay VAT?
The rules on VAT and tax in the UK are constantly changing and you need to talk to your own accountant about what is best for you. The charter fees charged to customers include IVA at 21%, the Spanish equivalent of VAT. We can therefore advise you on setting up a Spanish company so that the IVA on income can be offset against your maintenance expenditure.
Will your customers look after my yacht?
We take great care to ensure that the charterer has sufficient expertise and experience to safely handle your yacht. Many of our customers are repeat charter clients and others have attended RYA courses with us in the past.
In Spain there are strict regulations on the qualifications needed to charter a yacht. For bareboat charter the skipper needs to hold an International Certificate of Competence. This can be obtained from the RYA by any British national or UK resident with a Practical Day Skipper qualification. If we have any doubts about the ability of the charterer to handle the yacht we will assess them on the first day. If we are not convinced that they are able to handle the responsibilities of being the skipper they are required to hire a skipper for the week or for the first couple of days until they are up to the required standard.
How will my yacht be marketed?
We have developed a marketing programme to cover the UK and Europe which encompasses media ads, boat shows, our website and our brochure and mailings. We also run our programme of RYA sailing courses throughout the year and many of our students become our future charter customers.
What level of service will the charter customers receive?
We are proud to offer a very personalised service to all our customers. The boat is thoroughly cleaned inside and out after every charter, gas bottle and water tanks are filled, beds are made up with fresh laundry and all systems are checked to ensure they are in working order. We offer all our customers a lift to the supermarket on their arrival so that they can stock up for the week ahead with minimum hassle. Throughout their charter they can call us for help and advice and a weather update.
How can I find out more?
Give us a call or drop us an email to discuss your specific needs and to find out more about a mutually beneficial partnership.
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